[Morgan Stanley: Gold's Hedging Role Needs to Be Redefined; Remains Top Choice Among Metals] According to Jinse Finance, on October 27th, gold prices fell from $5,600 per ounce at the beginning of the year to recently dropping below $4,000 per ounce. Despite the short-term weakness, Morgan Stanley stated that it will maintain gold as its top choice among metals and has set a target price of $5,000 per ounce for the second quarter of 2027.